- TRON’s 2025 high was not met with much enthusiasm.
- An increase in the number of spot sales may be a sign that a new trend is emerging.
TRON [TRX] Two times in the last 10 days, the daily session closed above the level of $0.274. The token price retraced on both occasions to $0.266.
Both bulls and the bears were competing for control at the 5-month high range of $0.274. To date, neither an obvious breakout nor a definitive reject has taken place.
A bearish trend was predicted by the evidence available, especially when Bitcoin [BTC] Falls below the $102k Demand Zone
TradingView: Source for TRX/USDT
TRX low range was $0.22. The mid-range was $0.2475. TRON also had a consolidation period around the middle-range before it broke out bullishly at the end of April. This same midrange level held the bulls in check back in February.
In recent weeks, the OBV has been declining due to the current price consolidation between $0.27 and $0.275. The price and OBV both lacked a recent trend.
An increase in the buying pressure along with a price move above $0.274 is a good sign that a breakout will be strong.
TRON could struggle to reach the highs of local markets
Source: CryptoQuant
The Taker Trading Volume has flipped to the downside, indicating a dominant phase of Takers.
The difference in the volume of spot buyers and sellers over 90-days is measured by this metric. In the first two-thirds of May it was increasing and positive, but the trend has changed over the past 10 days.
Source: Coinglass
The 1-month heatmap of TRX liquidations showed that it was most likely going to drop to around $0.255, or to even lower levels like $0.24. The local May lows were surrounded by a large amount of liquid, and this could cause prices to fall in a search for liquidity.
At $0.282, there was also a concentration of liquidations that could be targeted in the next few days. The traders should avoid going long around $0.28 and shorting at $0.255.
Disclaimer: This information is not intended to be a financial, trading or investment advice. It represents the sole opinion of the author.
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Source: ambcrypto.com
